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2020-05-29  20:49
CIJ News iDesk V
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Events

Putin sets June 24 for Victory Day Parade

Vladimir Putin decreed that the parade celebrating Victory Day will take place next month and ordered the Russian military to hold the 75th anniversary of the Soviet victory in World War II on June 24. Putin justified the decision by saying that the number of new coronavirus cases has remained steady at less than 10,000 in recent days. “I order the start of preparations for the mil...
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2020-05-29  20:46
CIJ News iDesk V
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Economy

Oil demand recovers 20% in May

Oil demand remains at extremely low levels, but managed a 20 percent recovery from April's record-low levels, according to the Russian Energy Minister Alexander Novak. He reported that the country is currently running an oil surplus of 7-12 million barrels per day expressed confidence that a rebalancing would take place when growth returns in the months of June and July. “Despite...
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2020-05-29  20:43
CIJ News iDesk V
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Economy

Russian industrial output drops 6.6% in April

Russia’s industrial output slowed by 6.6 percent in April primarily due to complications caused by the coronavirus pandemic. The biggest fall was recorded in manufacturing, where output fell 10 percent compared with April 2019, while mining activities dropped 3.2 percent and the distribution of water and utilities came up 11.4 percent short. Before the lockdown was imposed, the indust...
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2020-05-29  19:00
CIJ iDesk I
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Appointments

A Tribute to Margund Schuh: 14/05/1963 -...

For those of us who had the privilege of calling Margund our friend or knew her as a colleague or in business she was undoubtedly a 'force of nature'. Margund was a CEE 'Pioneer', commencing her development career in the early 1990's, to become a highly-respected real estate professional who worked with UBM Group for over 25 years. She spent 17 of those ye...
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2020-05-29  17:36
CIJ iDesk I
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Company News

JC Penney opens 150 stores ahead of major...

JC Penney has opened up another 150 of its stores across 27 states. The move may be in line with the forced optimism with which the United States is trying to restart its economy, but for JC Penney the decision comes just a couple weeks after it filed for bankruptcy. In total, this brought the number of stores now open to 304, and the expectation is that it would have 500 operational ...
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2020-05-29  17:22
CIJ News iDesk VII
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Events

Sale prices for Portuguese housing rise 12...

Housing prices in Portugal increased by 12 percent in March 2020 compared to 2019, jumping from €316,629 in March 2019 to €354,757. As for the average lease price, that fell 8 percent from €1,349 to € 1,243. Lisbon and Faro were the districts with the highest average selling prices: €573,021 and €454,030 respectively. On the other hand, Castelo Branco (€119,947) and Beja (€130,719) ar...
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2020-05-29  17:21
CIJ News iDesk VII
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Company News

JDE Peet's raises new money on...

Coffee maker JDE Peet's, the parent company of Douwe Egberts, debuted on the Amsterdam Stock Exchange with a share increase of 13 percent. The company's current valuation is now estimated at €15.6bn. The company sold €700m worth of new shares, funds it will use to pay off debts. Existing shareholders Acorn and Mondelez sold an additional €1.55bn in shares. The pandemic has b...
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2020-05-29  17:19
CIJ News iDesk VII
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Company News

Nissan closing Spanish factory after record...

The Japanese automobile manufacturer Nissan is closing two factories, one in Spain and the other in Indonesia, because they were operating at a loss for the first time in 11 years. It's part of a drop in global demand, as well as production, caused by the coronavirus pandemic. Globally, Nissan's output has fallen 20 percent. Workers unions in Spain are warning that if Nissan...
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2020-05-29  16:12
CIJ News iDesk III
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Events

HOF Awards & Forum 2020 -- Day 4:...

On the fourth and final day of HOF Awards & Forum 2020, the online webinar event featured a discussion on what's arguably the region's hottest real estate sector. If the question posed by the panel discussion's topic "Are residential prices immune to COVID-19?", the answer from around the region was unequivocal: Yes. There appears little that any governmen...
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2020-05-29  12:56
CIJ News iDesk VII
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Economy

EU unity required for Croatia to receive its...

If the European Commission's proposal for financing the recovery from the crisis caused by the coronavirus pandemic is adopted, Croatia and Greece would be the biggest beneficiaries of financial aid. The EC's proposal would provide Croatia with slightly more than €10bn of the €750bn on offer. Of that total €7.36bn would come through grants while €2.65bn would be in the form ...
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